Gediminas Žiemelis

Gediminas Žiemelis
Born (1977-04-04) April 4, 1977
Vilnius, Lithuanian SSR
EducationMykolas Romeris University
Vilnius Gediminas Technical University
Occupation(s)Businessman, business consultant
Known forThe richest Lithuanian

Gediminas Žiemelis (born April 4, 1977) is a Lithuanian–Turkish[1] businessman. He is currently the chairman of the board at Avia Solutions Group and former chairman of the board, founder and UBO[2] at Vertas Management AB (former ZIA Valda).[3] Since 2022 Gediminas Žiemelis has been listed as the richest Lithuanian.[4][5][6] In 2024 his assets were estimated to be worth about 2.8 billion euros.[6][7]

Biography

Gediminas Žiemelis was born into poverty in Soviet-occupied Lithuania in 1977. Before his mother's birth, his maternal grandmother was deported from Lithuania to Siberia, where his mother was born. In 1956, after Stalin died, the family returned to Lithuania while his mother was still a child.

At the age of 19, in 1996, Žiemelis started his first company, a credit management and verification system, which he sold in 2004. Since then, he launched over a dozen businesses in different industries, managed five IPOs and raised over $1 billion.[8]

Žiemelis is a well-known aviation expert. He was named twice as one of the most talented young leaders in the global aerospace industry under age 40 according to the Aviation Week.[9] He was acknowledged by the European Business Awards and received the national champion award in the entrepreneurship category for his visionary inspiration and innovative approach to business development while leading Avia Solutions Group.[10] In 2023, Žiemelis ranked as one of Lithuania's most influential businessmen by Delfi.lt.[11] He is regular columnist for AeroTime since 2019, where he writes about the aviation industry's trends.[12]

Business

Most of Žiemelis' wealth is derived from his stake in the aviation industry.[13] He has invested in multiple businesses across several different sectors and has taken five companies public.[14] In 2010, as chairman of the board of aviation company Avia Solutions Group (ASG), he started the process of taking the company to an initial public offering (IPO). However, the IPO was postponed for one year due to what Žiemelis considered a low opening share price.[15] In 2011, ASG became the first Lithuanian company to be listed on the Warsaw Stock Exchange.[16] In 2013, also as chairman of the board of Avia AM Leasing (an aircraft leasing, acquisition and sales company), Žiemelis led the company to an IPO on the Warsaw Stock Exchange.[17][18] In 2014, Žiemelis launched international duty-free operator Globus Distribution with partner ŽIA valda.[19][20]

Pharmaceuticals

In 2017 he established the pharmaceutical holding Pharnasanta Group.[21] As of 2024 he is no longer associated with the company.[22]

Basketball

In 2022, Gediminas Žiemelis introduced his basketball club BC Wolves.[23] BC Wolves are already competing in the Lithuanian Basketball League (LKL) and the European North Basketball League (ENBL). The club is currently playing its home matches in Alytus Arena but will move to the newly renovated Avia Solutions Group Arena in Vilnius in 2023.[24]

References

  1. ^ "Žiemelis pasinaudojo teise į daugybinę pilietybę – tapo Turkijos piliečiu". Delfi (in Lithuanian). July 8, 2024. Retrieved June 20, 2025.
  2. ^ "Board of Directors". Vertas Management. 2023.
  3. ^ "ZIA Valda Board of Directors". ZIA Valda. Retrieved March 12, 2018.
  4. ^ "Paskelbtas šalies turtingiausiųjų sąrašas: šiemet jo viršūnėje – G. Žiemelis". Lrytas. November 24, 2022.
  5. ^ "Kuo verčiasi turtingiausi lietuviai ir kokios veiklos leidžia uždirbti daugiausia?". IQ. December 3, 2023.
  6. ^ a b "500 turtingiausių Lietuvoje: milijardieriai išsaugojo pozicijas, aukščiausiai pakilęs naujokas – V. Germanas". Alfa.lt. November 26, 2024.
  7. ^ "Turtingiausių Lietuvos žmonių sąraše pirmauja Žiemelis, figūruoja ir Germanas". lrt.lt/. November 26, 2024.
  8. ^ Mulligan, John (January 25, 2024). "From poverty under Soviet rule to a $12bn jet order, boss of Dublin-based Avia Solutions Group plots future growth". Irish Independent.
  9. ^ "Gediminas Ziemelis was included in the Aviation Weeks' Top 40 Under 40 list". Aviation Week.
  10. ^ "Avia Solutions Group received European Business Awards national champion award". BusinessAwardsEurope. Retrieved March 12, 2018.
  11. ^ "Industry association head ranked Lithuania's most influential businessman". lrt.lt. August 23, 2023. Retrieved August 24, 2023.
  12. ^ "Gediminas Žiemelis". AeroTime.
  13. ^ "Kuo verčiasi turtingiausi lietuviai ir kokios veiklos leidžia uždirbti daugiausia? Skaitykite daugiau". iq.lt. December 3, 2023.
  14. ^ Arlidge, John (October 11, 2024). "'Trump is a dealmaker': Gediminas Žiemelis, Lithuania's richest man, on basketball, Boeing and being fired". Spear's.
  15. ^ "„Avia Solutions Group" IPO Lenkijoje patyrė nesėkmę Skaitykite daugiau". Delfi.lt. December 1, 2010.
  16. ^ "Avia Solutions IPO and First Foreign-Market Listing of Lithuanian Shares". TGS Baltic. January 1, 2011.
  17. ^ "Warsaw Stock Exchange:The Biggest Foreign IPO This Year-AviaAM Leasing is the 54th Foreign Issuer Listed on the WSE and the 3rd foreign company to introduce its shares to the main market in 2013". mondovisione. June 28, 2013.
  18. ^ "Avia AM Leasing considers IPO and listing on the Warsaw Stock Exchange". Center for Aviation. July 9, 2013.
  19. ^ "Lithuanian Avia Solutions Group teams up with Russians for cargo airline". L24.lt. February 6, 2016.
  20. ^ Ciulada, Paul (May 8, 2014). "Ziemelis is creating a chain of 40 duty-free shops". Verslo zinios.
  21. ^ "ZIA Valda enters pharmaceuticals business with new Pharnasanta group". Lrytas.lt. Archived from the original on June 25, 2018. Retrieved March 12, 2018.
  22. ^ "Management". Pharmasanta Group.
  23. ^ "Pristatytas Žiemelio klubo pavadinimas". basketnews.lt (in Lithuanian). Retrieved March 13, 2023.
  24. ^ "Žiemelis atvertė kortas – pristatytas klubo pavadinimas ir logotipas". lrt.lt (in Lithuanian). June 30, 2022. Retrieved March 13, 2023.
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